1283 Sumner Ave.

Multifamily / Mobile Home Offering in North Charleston, SC

powell.group is proud to exclusively present the offering of 1283 Sumner Ave. located in North Charleston just outside of Park Circle. All offering materials are of confidential nature, intended for use by a limited number of parties and furnished solely for the purpose of considering the acquisition of the Property described herein. You agree that you will hold and treat all Offering Downloads in the strictest confidence. No representation is made by owner or powell.group as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the Property. The information contained within has been obtained from sources that we deem reliable, and we have no reason to doubt its accuracy; however, no warranty or representation expressed or implied is made by powell.group or any related entity as to the accuracy or completeness of the information contained herein. Prospective purchasers are expected and encouraged to exercise independent due diligence in verifying all such information. Included herein are projections, opinions, assumptions, or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. Owner and powell.group each expressly reserve the right, at their sole discretion, to reject any, or all expressions of interest or offers regarding the Property, and/or terminate discussions with any entity at any time, with, or without notice.

Table of Contents

Executive Summary

Plat

Financial Performance

Map

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Executive Summary

1283 Sumner Ave represents a high performing yet simple multifamily community. There is a combination of Duplexes and Mobile Homes under permanent roofs, all of which are separately metered for Power.

This is an excellent opportunity with strong in-place cash flow as well as a potential covered land play to reposition the asset to traditional multifamily over time.

If Up-Zoned to R-2 Multifamily, this property would support a total of 21 dwelling units.

Address :: 1283 Sumner Ave. North Charleston, SC 29406

TMS# :: 471-02-00-056

Acreage :: .73 | 31,799sf

County :: Charleston

Zoning :: R-1 Residential

Flood Zone :: X (Firmette)

Mix :: 3 Residential buildings, 5 Mobile Homes

Gas :: Separate Meters, paid by Tenants

Electric :: Separate Meters, paid by Tenants

Water/Sewer :: Master Meter, paid by Landlord

Ownership :: Seller owns all mobile homes

Waste Removal :: Provided by City

Financial Performance

Property Taxes :: $4,534.28

Water/Sewer :: $600 - $800 per Month

 

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